back Back

JULO launches complete features of digital credit in Indonesia

By Leandra Monteiro

September 24, 2021

  • digital credit
  • financial literacy
  • Hidupkan Hidupmu
Share

JULOEstablished in Indonesia as technology company, PT. JULO Teknologi Finansial (JULO) launches digital credit with comprehensive features including cash and non-cash transactions. The official launch of JULO Digital Credit is being introduced through “Hidupkan Hidupmu” (Live your Life) campaign that empowers Indonesia to live their life to the fullest with JULO Digital Credit. As a fully licensed peer-to-peer lending player, it is committed to providing credit access to millions of consumers across Indonesia and driving financial inclusion in the country.

With the launch of JULO digital credit, users can utilize their – up to 15 million IDR limit for various transactions, including fund withdrawal, fund transfer, phone credit top up, utilities bill payment, e-wallet top-up, e-commerce and QRIS payment. Latest JULO feature QRIS (Quick Response Indonesia Standard) enables users to transact at any of 8 million QRIS enabled merchants nationwide. In addition, with the low interest rate from 0.1% per day, users will be able to manage cashflow and fulfill their financial needs easily from their smartphone.

JULO’s CEO & Co-founder, Adrianus Hitijahubessy states, “JULO product transformation is designed to cater digital transactions easily on top of the regular cash loan. We believe JULO digital credit would not only provide financial access to Indonesians but also empower them to increase their quality of life.” “This year, we’ve seen significant increases in consumer demand as we record more than 100% growth in disbursement from the year of 2020 year to date,” added Adrianus Hitijahubessy.

Head of Marketing JULO, Mikhal Anindita states, “It’s great to see the enthusiasm and participation in Hidupkan Hidupmu campaign. Through this campaign, JULO wants to share appreciation to everyone who aspires to move forward and fulfill their life. In this unideal pandemic period, we really need the positive vibes to empower ourselves to conquer life challenges that we face.”

As one of the biggest developing countries worldwide, the 40% financial literacy rate in Indonesia has become a challenge to financial practitioners (OJK Financial Literacy Survey, 2020). One of the renowned financial literacy platforms, Overheard Keuangan shares his agreement. “Majority of Indonesians have a lack of understanding in utilizing credit facilities. Many of them were trapped into consumptive habits. In reality credit facilities can be beneficial when used wisely where it could eventually stimulate Indonesia economic growth altogether. My salute goes to JULO who is committed to boost financial literacy besides doing its business,” adds the content creator.

To date, 70% of JULO digital credit loans have been used for life improvement, such as business capital, house renovation, healthcare and education purposes. JULO believes product transformation to digital credit combined with continuous financial education would enable customers to use the digital credit product effectively and eventually customers could empower themselves to live their life to the fullest.

Previous Article

September 24, 2021

Revere Securities announces new Senior Managing Director

Read More
Next Article

September 24, 2021

E-wallet app launched by Wallet Factory to help the underbanked in Belize

Read More

IBSi Prime News

October 21, 2021

digital credit

Who are the top 10 most influential FinTech companies in 2021?

Read More
  • Daily insightful news analysis
  • Weekly snapshot of the industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by the IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

October 21, 2021

4 promising FinTech companies in Mexico

Read More

October 21, 2021

kevin. secures $10m seed round to disrupt card payment ecosystem

Read More

October 21, 2021

nCino and GBB partner to process residential and commercial loans

Read More

Related Reports

Bank-wide
Sales League Table Report 2021

£1,500 / year

Know More
Market Reports
US Financial Services Technology Report 2021

£1,500 / year

Know More
Retail Banking
The Future of Digital Banking Report 2021

£1,500 / year

Know More
Wealth Management
Wealth Management & Private Banking Systems Report 2021

£1,500 / year

Know More
Wholesale Banking
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More